tom: when do we get careful analysis of tax cut affects -- charles kantor was mentioning this earlierons. when do we get appropriate and good analysis of tax cuts and overlaid on that, the new budget realities? kim: i think charles is right. for the first two or three quarters of this year, you will have a strong tailwind. the first glimpse of the downside of what happened will be the april estimate of the budget. it usually comes at the end of january and has been delayed until early april. it will probably be another wide -- another year before you see the baseline changing before people begin to worry about debt in a serious way. tom: good morning to you from --francine: good morning to you from london. do you worry these tariffs -- that you have punitive -- kim: i do not worry about it in this context. -- one of the reasons the white house is going to reconsider what it announced. another reason are the meetings scheduled today with u.s. ceos, the feedback on the proposal has been negative around the board, really, the only people who benefit are some steel companies and aluminum